CuFe Ltd (ASX: $CUF) Placement Announcement

CuFe Ltd (ASX: $CUF) has announced a successful placement to raise $3 million through the issuance of 187,500,000 ordinary shares to professional and sophisticated investors at an issue price of $0.016 per share. The funds raised will be utilized to expedite exploration activities at the Tennant Creek Copper, North Dam Lithium, and West Arunta Niobium projects, as well as for general working capital.

Executive Commentary on Placement

We are pleased to have secured this injection of funds into the Company to fund exploration activities at our projects, which have prospectivity for some of the world's most sought after future facing minerals in copper, lithium, niobium and rare earths. CuFe has been in a different position to many junior players in that since its JWD iron ore mine commenced in 2021 it has been providing cash flow to fund our exploration and administration costs without the need to raise further equity. While that remains the case we are keen to fast-track our exploration activities now we have such a prospective portfolio, rather than being able to perform them as and when the iron ore price allows, so this raise gives us that flexibility. I would like to thank Evolution and Peak and their clients for supporting the raise and look forward to working with them to grow the Company for the benefit of all shareholders.

Summary of CuFe Ltd Placement Announcement

CuFe Ltd (ASX: $CUF) has successfully secured a $3 million placement to expedite exploration activities at its Tennant Creek Copper, North Dam Lithium, and West Arunta Niobium projects, as well as for general working capital. The company aims to leverage the funds to fast-track its exploration activities and capitalize on the prospectivity of its portfolio, particularly in the domains of copper, lithium, niobium, and rare earths. The successful placement reflects CuFe's commitment to advancing its projects and maximizing shareholder value.